What is a good until cancelled order in the context of cryptocurrency trading?

3 answers

• thatoneprogrammer asdfAug 01, 2020 · 5 years ago
  A good until cancelled order, also known as a GTC order, is a type of order that remains active until it is either executed or cancelled by the trader. In the context of cryptocurrency trading, it allows traders to set a specific price at which they want to buy or sell a particular cryptocurrency. Once the order is placed, it stays in the order book until it is filled or manually cancelled by the trader. This type of order is particularly useful for traders who want to set a specific price target and are willing to wait for the market to reach that price. It provides flexibility and convenience, as traders do not need to constantly monitor the market and manually place orders. However, it's important to note that GTC orders may not be suitable for all trading strategies, as they can remain open for an extended period of time and may not be executed if the market conditions do not meet the specified price.
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• Potter SchwarzMay 15, 2022 · 3 years ago
  A good until cancelled order is a type of order that remains active until it is filled or cancelled by the trader. In cryptocurrency trading, it allows traders to set a specific price at which they want to buy or sell a cryptocurrency and keep the order open until it is executed. This type of order is commonly used by traders who have a specific price target in mind and are willing to wait for the market to reach that price. The advantage of using a GTC order is that it eliminates the need for constant monitoring of the market and manual order placement. However, it's important to note that GTC orders may not be executed immediately and can remain open for an extended period of time. Traders should carefully consider their trading strategy and market conditions before using GTC orders.
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• murillomnoJan 17, 2021 · 4 years ago
  A good until cancelled order, commonly referred to as a GTC order, is a type of order in cryptocurrency trading that remains active until it is filled or manually cancelled by the trader. It allows traders to set a specific price at which they want to buy or sell a cryptocurrency and keeps the order open until the market reaches the specified price. GTC orders are particularly useful for traders who have a specific price target in mind and want to automate the buying or selling process. However, it's important to note that GTC orders may not be executed immediately, especially if the market conditions do not meet the specified price. Traders should consider the potential risks and benefits of using GTC orders and adjust their trading strategy accordingly.
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